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Finovate Alumni News

By David Penn Posted on November 11, 2019
Categories: FIS, Jumio, Kinetica, Personetics, Sezzle

On Finovate.com

Jumio Partners with Philippines Remittance Provider I-Remit

Around the web

Sezzle’s Karen Hartje wins recognition from Minneapolis/St. Paul Business Journal as its 2019 CFO of the Year.

FIS earns number one ranking for risk management and compliance technology solutions from Chartis RiskTech100 for the fifth year in a row.

Kinetica announces integration of NVIDIA RAPIDS to enhance performance of its Active Analytics Platform.

Fintech Finance interviews Personetics’ President of the Americas Jody Bhagat.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alums Earn Spots on Deloitte’s 2019 Technology Fast 500

By David Penn Posted on November 8, 2019
Categories: Alkami Technology, Dashlane, EVERFI, Feedzai, Juvo, Kabbage, Lendio, Passport, Payfone, SheerID, Signifyd, Unison, WealthForge, WorkFusion

Of the 500 fastest growing technology companies in North America right now, how many have demonstrated their technology live on the Finovate stage?

The answer, courtesy of Deloitte’s just-released 2019 Technology Fast 500 ranking, is a full, baker’s dozen of thirteen innovative firms that have introduced their solutions to Finovate audiences. Update: 11/13: Make that 14 companies!

“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” Deloitte Vice Chairman Sandra Shirai said. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top ten. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”

Making the top 20 of Finovate alums making the cut was Unison, which made its Finovate debut at FinovateSpring in 2017, winning Best of Show. Unison’s HomeBuyer and HomeOwner solutions help make homes more affordable and home equity easier and less expensive to access.

Also notable on Deloitte’s list is the appearance of two of our newest alums – SheerID and EVERFI – which demonstrated their solutions earlier this year at FinovateSpring.

Check out all the Finovate alums that made the list below. We’ve included their Technology Fast 500 rank, three-year revenue growth rate, headquarters location, and a link to the company’s most recent Finovate demo video.

Unison
Rank #19
Growth 5,280%
San Francisco, California
FinovateFall 2017

Signifyd
Rank #115
Growth: 1,084%
San Jose, California
FinovateSpring 2013

Juvo
Rank #122
Growth: 1,036%
San Francisco, California
FinovateFall 2016

WorkFusion
Rank #129
Growth: 974%
New York City, New York
FinovateFall 2014

Alkami
Rank #130
Growth: 958%
Plano, Texas
FinovateSpring 2009 (as iThryv)

Payfone
Rank #185
Growth: 596%
New York City, New York
FinovateFall 2012

Passport
Rank #214
Growth: 510%
Charlotte, North Carolina
FinovateEurope 2016

Feedzai
Rank #231
Growth: 472%
San Mateo, California
FinovateEurope 2014

SheerID
Rank #243
Growth: 450%
Portland, Oregon
FinovateSpring 2019

WealthForge
Rank #297
Growth: 359%
Richmond, Virginia
FinovateSpring 2016

Dashlane
Rank #348
Growth: 282%
New York City, New York
FinovateEurope 2013

Lendio
Rank #378
Growth: 250%
Lehi, Utah
FinovateSpring 2011

Kabbage
Rank #448
Growth: 198%
Atlanta, Georgia
FinovateSpring 2015

EVERFI
Rank #469
Growth: 184%
Washington, D.C.
FinovateSpring 2019

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Saudi Arabia Bets Big on Fintech; Sberbank Unveils Russian Supercomputer

By David Penn Posted on November 8, 2019
Categories: Finovate Global, Fiserv, Ripple, Sberbank

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Fresh off a successful return to Singapore for FinovateAsia, we are happy to announce that FinovateMiddleEast will be back in Dubai later this month, November 20 and 21. For more information about our upcoming fintech conference in the UAE, visit our FinovateMiddleEast page today.

Middle East and Northern Africa

Saudi Arabia’s Riyad Bank invests $26.7 million in new fintech startup investment program.
BankDhofar signs partnership agreement with Oman-based fintech TelyPay.
Central Bank of UAE considers new fintech office to help drive innovation in financial services.

Central and Southern Asia

A new B2B fintech program for Indian fintechs, FT Slingshot, launched at Hong Kong FinTech Week.
Mumbai, India’s financial capital, is seeking to establish itself as the countr’s fintech hub, as well.
Eight Indian fintechs, including Paytm and OlaMoney, earn spots in the KPMG and H2 Ventures Fintech 100 list.

Latin America and the Caribbean

Mexican cryptoexchange Bitrus introduces new e-wallet geared toward unbanked population.
Creditas, a Brazilian digital consumer lending platform, opens new offices in Valencia, Spain.
Born2Invest looks at the growth of the fintech sector in Argentina.

Asia-Pacific

Tandem Bank, a challenger bank based in the U.K., announces plans for an expansion to Hong Kong.
Vietnam’s TPBank forges agreement with Ripple’s RippleNet.
International visitors to China have access to a new prepaid card service run by Alipay and supported by Bank of Shanghai.

Sub-Saharan Africa

South African fintech iKhokha offers a blunt assessment of the country’s struggle to attract the talent necessary to grow its fintech industry.
The U.K. announces plans to deepen fintech partnership with Nigeria and other Africa nations.
Andrew Takyi-Appiah, CEO of Ghana-based Zeepay, talks about the business of remittances and its recent partnership with Moneygram.

Central and Eastern Europe

Romanian fintech Beez goes live in the U.K.
Fiserv inks global agreement with German grocery industry leader ALDI.
Sberbank introduces Russia’s fastest supercomputer, the Christofari.

Top image designed by Freepik

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TransferWise Teams Up with GoCardless to Launch Global Network for Bank Debits

By David Penn Posted on November 8, 2019
Categories: TransferWise

GoCardless has teamed up with TransferWise to launch the first global network for collecting recurring payments via bank debit, reports Jane Connolly of Fintech Futures (Finovate’s sister publication).

Customers of recurring payments fintech GoCardless will be able to collect subscriptions, invoices and installments in over 30 countries, without having to open a new bank account in every relevant country or pay large foreign currency receiving fees.

The new network enables customers to collect payments via multiple bank debit schemes around the world through the GoCardless API, dashboard or partner integrations. The partnership claims that a direct integration to the TransferWise API will provide low cost, convenient and transparent pricing.

“Businesses today have global ambitions, but an antiquated, fragmented and opaque payment system is holding them back,” said Hiroki Takeuchi, CEO and co-founder of GoCardless.

“Our new network represents a major milestone in our mission to fix this broken system. Companies of all sizes can now tap into the only global network for recurring payments, built on the tried and trusted method of bank debit, with real exchange rates powered by TransferWise. This will take the pain out of getting paid and enable every business to operate in a way that’s truly borderless.”

Taavet Hinrikus, chairman and co-founder of TransferWise, added: “Together, we’re setting the new standard for business banking, using new technology to offer cheaper, faster, more transparent services that truly meet the needs of today’s businesses.”

Rolling out in phases from mid-November, the network will allow businesses to receive payments at the real exchange rate in GBP, USD, EUR, SEK, DKK, CAD, AUD and NZD.

TransferWise demonstrated its platform at FinovateEurope 2013. Founded in 2010 and headquartered in London, U.K., the company has raised more than $772 million in funding from investors including Vitruvian Partners and Lone Pine Capital. The firm’s competitors include fellow Finovate alums Revolut and Currencycloud.

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Finovate Alumni News

By David Penn Posted on November 8, 2019
Categories: Compliy, DemystData, Equifax, Fenergo, Ripple, RISQ, Sberbank, Sensibill, Tink, TransferWise, Worldline

On Finovate.com

Finovate Alums Earn Spots on Deloitte’s 2019 Technology Fast 500

TransferWise Teams Up with GoCardless to Launch Global Network for Bank Debits

Finovate Global: Saudi Arabia Bets Big on Fintech; Sberbank Unveils Russian Supercomputer

Around the web

Worldline and Bitcoin Suisse partner to enable use of cryptocurrencies at the point of sale.

Ripple’s RippleNet tops 300 customers.

Tink hires Stripe’s former head of EMEA banking as its new Country Manager for the U.K. and Ireland.

DemystData makes Equifax data assets available on its marketplace in expansion of current partnership.

Fenergo earns recognition from Chartis Research in its RiskTech 100 2020 report as a category leader for Client Lifestyle Management and Know Your Customer.

RISQ Intelligent Software International and Compliy win finalist spots in the Monetary Authority of Singapore’s Global FinTech Hackcelerator.

Sensibill named a “Company to Watch” in Deloitte’s Technology Fast 50 Awards.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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FICO Acquires EZMCOM

By Julie Muhn (@julieschicktanz) Posted on November 7, 2019
Categories: Fair Isaac FICO, FICO, Mergers & Acquisitions

Analytics and decision management technology company FICO announced two new products this week as it snapped up security access provider EZMCOM. Transactional details of the acquisition were undisclosed.

The acquisition has facilitated the launch of FICO Identity Proofing, digital onboarding technology; and FICO User Authentication, a suite of multi-factor, biometric, and behavioral authentication capabilities.

EZMCOM was founded in 2006. The company’s identity proofing, biometric, behavioral and risk-based authentication technology is used by tier-1 banks across the globe, ultimately serving 60 million customers.

“As our clients expand their digital offerings, they are requesting more sophisticated identity proofing and authentication capabilities to complement our fraud, compliance, customer lifecycle, and customer engagement applications,” said FICO CTO Claus Moldt. “Behavioral and biometric authentication are becoming the gold standard to prevent identity spoofing and improve customer protection, while reducing friction. By adding this technology to our portfolio, we will provide our clients with a seamless approach to authentication and customer onboarding – across digital channels, mobile devices, servers and workstations.”

Founded in 1956 as Fair Isaac Corporation, FICO presented “Rapidly Deliver Contextually-Powered Stream Processing” at FinDEVr New York 2016.

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Q2 Closes Acquisition of PrecisionLender

By Julie Muhn (@julieschicktanz) Posted on November 7, 2019
Categories: Mergers & Acquisitions, Q2, Q2 Holdings, Q2ebanking

Last week, Q2 completed its sixth acquisition since its 2004 launch. The digital banking services company closed the books on a $510 million deal to purchase PrecisionLender, a sales enablement platform.

“We are thrilled with the outstanding talent, culture and industry expertise the PrecisionLender team brings to the Q2 family,” said Q2 CEO Matt Flake. “We are also excited about the potential we have to help our customers improve margins, profitability and the quality of their relationship with their key accounts using our combined data insights and commercial banking solutions.”

Q2 will leverage PrecisionLender to further its corporate banking expertise and solidify its leadership in digital banking. Going forward, PrecisionLender will operate as Precision Lender, a Q2 company.

Q2 debuted Q2 Biller Direct at FinovateSpring 2018 and the company’s CIO Lou Senko made a cameo appearance in ALTR’s demo at FinovateFall earlier this year.

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FinovateMiddleEast Sneak Peek: Hakbah

By David Penn Posted on November 7, 2019
Categories: FinovateMiddleEast 2019, FinovateMiddleEast 2019 Sneak Peek, Hakbah

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

Hakbah is an Islamic fintech startup with a mission to increase financial inclusion via its Smart Cooperative Saving Platform. The focus is on digitizing traditional financial habits (like Jamiya).

Features

Provide a smart and easy digital solution in a smart savings platform
Increase financial inclusion via savings products
Move the informal financial channel into a financial system

Why it’s great
Hakbah is capturing and digitizing the consumer’s traditional financial habits embedded within the financial system. The solution also offers savings products for underbanked individuals.

Presenter

Naif AbuSaida, Founder and CEO
AbuSaida has seven years of experience in banking, cash management, money transfers, operational risk, and financial risk. He has 13 years of experience in marketing and communications and corporate strategy.
LinkedIn

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FinovateMiddleEast Sneak Peek: FinFirst

By David Penn Posted on November 7, 2019
Categories: FinFirst, FinovateMiddleEast 2019, FinovateMiddleEast 2019 Sneak Peek

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

FinFirst is an end-to-end financial services aggregator that pairs businesses and consumers with banks and NBFIs and offers fully automated onboarding, credit assessment, and fulfillment.

Features

Serves businesses and consumers as an AI-driven aggregator of financial services
Supports financial inclusion and serving the underbanked
Offers alternative lending and alternative investing

Why it’s great
FinFirst is a one-stop shop for financial services.

Presenters

Omar Mehanna, Chief Executive Officer – UAE
Mehanna is an award-winning, commercially-minded business leader with over 25 years of banking and investment experience with leading international financial institutions and early stage/growth businesses.
LinkedIn

Abbas Hijazi, Chief Executive Officer
Hijazi has originated and executed landmark transactions in M&A and corporate finance. He has expertise in fintech, private equity, venture capital, real estate, and M&A.
LinkedIn

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FinovateMiddleEast Sneak Peek: JuicyScore

By David Penn Posted on November 7, 2019
Categories: FinovateMiddleEast 2019, FinovateMiddleEast 2019 Sneak Peek, JuicyScore

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

JuicyScore provides next generation device authentication and data analytics. The company makes the internet safer via improving end-user security and alternative data engineering without using personal or sensitive data.

Features

Robust device authentication technology stack and wide output data vector
End-user security that does not utilize personal data
Worldwide accessibility based on open API principles

Why it’s great
Every online trace leads to valuable data which is safe, predictive, and extremely powerful for fraud prevention, risk management, and financial inclusion purposes.

Presenters

Alexander Akhlomov, Chief Product Officer and Co-Founder
Akhlomov has extensive experience in product development and information services for financial institutions, together with expertise in risk management and portfolio analytics.
LinkedIn

Andrew Reddikh, Chief Technology Officer
Reddikh has extensive engineering experience in multiple areas such as travel, banking, and finance. He has worked with many backend and frontend tools including GoLang, Java, PHP, NodeJS, JavaScript, and ReactJS.
LinkedIn

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FinovateMiddleEast Sneak Peek: DAPI

By David Penn Posted on November 7, 2019
Categories: DAPI, FinovateMiddleEast 2019, FinovateMiddleEast 2019 Sneak Peek

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

DAPI is an API that connects applications to banks.

Features

Simple integration for MENA-wide bank connectivity
Access to end users financial information in their bank accounts
Payment initiation and automation

Why it’s great
A one-stop shop for fintech infrastructure in MENA, DAPI is the first unified banking API in the region.

Presenter

Mohammed Aziz, Co-Founder and CEO
Aziz is an innovator, tech entrepreneur and fintech expert who built successful tech startups prior to cofounding DAPI, which he is building with the vision to disrupt the fintech landscape in MENA.
LinkedinA

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Starling Bank Offers Income Protection Insurance via Anorak Partnership

By David Penn Posted on November 7, 2019
Categories: Anorak

A little over a year ago, U.K. challenger bank Starling and automated online insurance advisory Anorak Technologies forged a partnership to bring personalized life insurance options to bank customers. Now, the two companies are back in the fintech headlines with a new offering. Starling announced that it will offer income protection insurance for the self-employed courtesy of its collaboration with Anorak.

“If you’re a freelancer, contractor, or sole trader, you may need income protection insurance to provide peace of mind if something happens that means you can’t work,” Team Starling noted on the company blog this morning. “Everyone has bills to pay, sometimes for a whole family, and if something goes wrong, an insurance provider could cover your outgoing when you don’t have a regular income.”

In order to access the insurance offering, Starling app users simply tap on the Anorak link in the Insurance category of the app. Anorak will guide the user through a quick, free, online assessment during which the user’s Starling Bank transactions are analyzed and the user is given advice on how much income protection and life insurance would be advisable. The technology also lets users know how long they should be covered and why. Starling Bank notes that the intention is to provide income protection and insurance coverage that is not just the most affordable, but is also the best choice for the consumer, as well.

“Bancassurance 3.0 is a reality,” Anorak wrote on its LinkedIn page today. “Technology redefines the way people access life insurance. With Starling Bank we help sole traders easily protect their biggest asset, themselves.”

Anorak demonstrated its Smart Life Insurance solution at FinovateSpring 2018. Embedded into the bank’s mobile app and leveraging bank data to provide quick insurance assessments, Anorak’s technology is designed to make it easy for partners ranging from challenger banks to online retailers to investment platforms to offer their customers personalized insurance options.

Named to FinTech Global’s list of the top 100 insurtech companies, Anorak teamed up with protection and mortgage advice company Albany Park over the summer. The partnership brought telephony protection advice to Anorak’s online platform. Anorak began the year with news that it was joining the FinTech Innovation Lab London’s 2019 cohort – along with fellow Finovate alums Exate Technology and FutureFlow.

Founded in 2017 and headquartered in London, U.K., Anorak has raised $11.5 million (£9 million) in funding and includes French insurtech startup studio Kamet among its investors. David Vanek is co-founder and CEO.

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